Toronado Partners LLC raised its stake in shares of Fabrinet (NYSE:FN - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,746 shares of the technology company's stock after acquiring an additional 8,700 shares during the period. Fabrinet makes up 13.7% of Toronado Partners LLC's investment portfolio, making the stock its biggest holding. Toronado Partners LLC owned 0.27% of Fabrinet worth $21,712,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Assetmark Inc. grew its stake in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares during the last quarter. CIBC Asset Management Inc increased its position in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after buying an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock worth $647,000 after acquiring an additional 68 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after acquiring an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. increased its position in Fabrinet by 17.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after purchasing an additional 83 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
Fabrinet Stock Performance
Shares of FN stock traded down $2.13 during mid-day trading on Tuesday, reaching $188.06. The company's stock had a trading volume of 496,905 shares, compared to its average volume of 602,740. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm's 50-day moving average is $205.69 and its two-hundred day moving average is $226.34. The company has a market cap of $6.82 billion, a P/E ratio of 21.04 and a beta of 0.97.
Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.
Wall Street Analyst Weigh In
FN has been the topic of several analyst reports. Rosenblatt Securities restated a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price target for the company from $178.00 to $176.00 in a report on Friday, April 4th. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Finally, Barclays dropped their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $250.14.
Check Out Our Latest Stock Analysis on FN
Fabrinet Profile
(
Free Report)
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.
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